MARKET BRIEFING – LONDON OPEN 23.11.2015
The European series of Flash Manufacturing PMI is taking the centre of traders’ attention this morning. French and German Flash PMI data are projected to increase to 50.7 and 52.2 correspondingly, with only general European PMI awaited to remain without changes at 52.3.
This set of PMI is released by Markit financial Information and typically comes out three weeks after a month ends after a month ends and may add volatility to the Euro pairs.
The European Manufacturing PMI set of data is a leading indicator of economic health in the manufacturing sector as purchasing managers possess good inside of the current economic conditions and adapt to them rapidly.
Around 500 purchasing managers from each zone are questioned to rate the current business conditions regarding an amount of new orders, inventories and production levels and also to rate employment sphere and supplier deliveries.
A number above 50 indicates that the industry is expanding, whereas 50 will states that there were no changes, with the below that showing a contraction.
The releases coming above the projections will usually have a positive effect on the common European currency with the vice versa applicable as well.
EURUSD has opened sharply lower this morning, as the US dollar continue to gain strength and reaching above 100 level during this morning, the level last seen seven month ago.
EURUSD
The intraday technical outlook
Trend 1 hour: Down
Target 1: 1.0734
Target 2: 1.0544
Projected range in ATR’s: 0.0095
Daily control level: 1.0825
GBPUSD
The intraday technical outlook
Trend 1 hour: Down
Target 1: 1.5271
Target 2: 1.5075
Projected range in ATR’s: 0.0098
Daily control level: 1.5335
USDJPY
The intraday technical outlook
Trend 1 hour: Down
Target 1: 123.47
Target 2: 122.13
Projected range in ATR’s: 0.668
Daily control level: 123.75
USDCHF
The intraday technical outlook
Trend 1 hour: Range
Target 1: 1.0270
Target 2: 1.0118
Projected range in ATR’s: 0.0076
Daily control level: 1.000
USDCAD
The intraday technical outlook
Trend 1 hour: UP
Target 1: 1.3415
Target 2: 1.3251
Projected range in ATR’s: 0.0082
Daily control level: 1.3245
AUDUSD
The intraday technical outlook
Trend 1 hour: Up
Target 1: 0.7301
Target 2: 0.7159
Projected range in ATR’s: 0.0071
Daily control level: 0.7070
GOLD
The intraday technical outlook
Trend 1 hour: Down
Target 1: 1090.25
Target 2: 1062.85
Projected range in ATR’s: 13.70
Daily control level: 1098.00
OIL
The intraday technical outlook
Trend 1 hour: Down
Target 1: 43.28
Target 2: 40.28
Projected range in ATR’s: 1.504
Daily control level: 43.00
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